LLP - Limited Liability Partnership Company Registration
CCV India provides the consultancy services for incorporation of Limited Liability Partnership in 15-20 days. To form an LLP, 2 persons are required of which one should be a resident of India and every partner contributes in some manner. It was introduced in the Limited Liability Partnership Act, 2008. LLP combines the features of company and partnership business structure. The LLP Agreement between the partners lays down its founding structure. It states Name of LLP, partners, and designated partner. Contribution from partners, profit sharing ratio, and rights of partners are also defined.
Benefits of Limited Liability Partnership:
It is unaffected by death or departure of a partner and the business remains in existence with perpetual succession irrespective of the changes in partnership.
The ownership is easily transferred by inducting the person as a Designated partner.
With multiple owners, the risk is divided and much lesser than if a single person is the owner.
It also limits the liability of each partner in case of a legal issue.
There is no minimum authorized or paid up capital required for incorporation.
How to register Limited Liability Partnership?
The next step is to acquire DSC(Digital Signature Certificate). It is followed by applying for the name of the LLP. Selection of the name is an important part of the incorporation process, the proposed name of LLP should be as per the guidelines of MCA, SEBI, and RBI. After receiving name approval letter from MCA the incorporation documents are filed. An LLP agreement is prepared stating the profit sharing policies, rights of partners, and the contribution made by each partner.